“Now, I’m paying myself rent.” – Angelica Rains, President and CEO of Groupe Insearch
Press Release – updated: Oct 23, 2017 11:00 PDT
SAN FRANCISCO, October 23, 2017 (PRESS RELEASE JET) – Capital Access Group (www.capitalaccess.com), a San Francisco-based commercial real estate lender specializing in U.S. Small Business Administration 504 loans for growing businesses, recently helped Groupe InSearch, a specialty executive search firm led by President and CEO Angelica Rains, to secure $4 million in total project financing to purchase a commercial space at 631 Folsom Street, San Francisco, California. The new space sits squarely in the middle of one of San Francisco’s most desirable locations, near LinkedIn and the new Salesforce Tower — a prime location for the growing business.
Groupe InSearch specializes in placing high-level support to CEOs, private philanthropists, and venture capital investors in the Bay Area and beyond. Having a narrow focus on the top one percent of C-level support has been the key to the company’s success, according to President and CEO, and yet despite her success, Rains never thought she would own a commercial building in the City.
“I couldn’t imagine owning my own commercial space,” said Angelica Rains, President and CEO of Groupe Insearch. “But we were leasing the same space for 18 years, and every time our lease would expire, our rent would increase by 20, 30, even 40 percent. It was a very stressful and frustrating thing to go through. Now, we’re in the middle of San Francisco’s technology hub. We’re right in the middle of everything.”
It’s amazing that the down payment requirements are so low. If I had gone the traditional route, I would have had to put $1.5 million down. Now, I’m paying myself rent, so I’m able to build equity not only for me but for the company. Also, I will save $100,000 in taxes just from owning my own office, which is going to create more cash flow.
On advice from her mentors, Rains explored her options and whether she could purchase a commercial space.
“I heard about the SBA 504 program, where you put less money down and have a competitive interest rate for a long-term loan. That was very attractive to me,” said Rains. “I had no idea it was even possible until my broker introduced me to Claudia Cohen from Capital Access Group.”
“It’s amazing that the down payment requirements are so low,” said Rains. “If I had gone the traditional route, I would have had to put $1.5 million down. Now, I’m paying myself rent, so I’m able to build equity not only for me but for the company. Also, I will save $100,000 in taxes just from owning my own office, which is going to create more cash flow.”
Rains described her experience with Capital Access Group as “amazing.”
“Claudia was so great,” said Rains. “As a small business owner, I have five million things on my plate. Claudia kept me calm and respected my time. It was amazing working with her and her team.”
“We enjoyed supporting Angelica through the SBA 504 loan process,” said Claudia Cohen, SVP, Capital Access Group. “By purchasing her own commercial building, she keeps her payments fixed at a low rate, enabling her business to grow. Plus, she’s building equity for the business and for herself.”
About Capital Access Group: Capital Access Group is a leading statewide Certified Development Company based in San Francisco, authorized by the U.S. Small Business Administration to provide long-term, fixed-rate financing through the SBA 504 loan program, which offers 90 percent financing to business owners for the purchase, renovation, or construction of commercial real estate for their growing businesses. Founded in 1981, Capital Access Group has helped thousands of entrepreneurs grow their businesses and realize their dreams of owning their own buildings. Currently, the SBA 504 interest rate is 4.58 percent, fully amortized and fixed for 20 years. For more information, please visit www.capitalaccess.com.
Source: Capital Access Group
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